KEY TAKEAWAYS:
- Crypto journalism plays a vital role in informing and regulating the crypto space.
- A deep understanding of crypto terminology and industry dynamics is essential.
- Success in journalism requires strong research, analysis, and writing skills.
- Networking and staying current on trends are crucial for finding stories.
- Objectivity and relationship building are key to producing quality content.
- Specializing in a niche can significantly advance your career.
- Freelancing offers diverse experiences and flexibility in the crypto journalism field.
- Content creation is a valuable strategy for establishing authority.
- Continuous learning and adaptability are necessary for career growth.
- Crypto journalists influence public perception and understanding of web3.
Crypto journalists have a different kind of power in this space. They are responsible for sharing the latest and greatest, the crazy hack & scam stories and the ever so popular regulation updates along with everything else happening in the crypto world.
As this industry saw massive growth over the past few years crypto journalism has become increasingly important to cater to millions of people worldwide.
Crypto continues to evolve and mature & the need for quality crypto writing keeps on rising.
Journalists play a critical role in helping readers navigate the complex and stimulus-packed, often confusing world of crypto, as well as in holding companies and individuals accountable for their actions.
Crypto correspondents share updates on mainstream media outlets and on their YouTube channels.
The industry is evolving and growing at a staggering rate with an expectation of growth at a 14.4% CAGR from 2023 to 2027.
With that being said letâs check out a general roadmap to get into crypto writing in 2024 and beyond!
đ§ Understanding The Crypto Industry
To be a great crypto correspondent, the first essential step is to have a solid understanding of the crypto industry. Youâll need to get a grasp over key players, cycles, what retailers tick with, the importance of whales and on-chain data, etc.
Being a correspondent is about connecting the dots and by knowing the ins and outs of the industry, and the general behavior patterns of everyone involved youâll be starting from a very strong foundation.
Letâs coax the above statement a little bit more and see what tactical stuff we need to do in order to get a strong foundation here.
To understand the crypto industry, it's also important to be familiar with common slang and crypto jargon.
For example, âexit scamâ, âlamboâ, ârektâ, âflippeningâ, âshillâ, âFUDâ, âNGMIâ etc.
Now youâre thinking, what does all this have to do with you becoming a great journalist? Well, almost everything.
Journalism is all about communicating with people in a way that can help them relate with what you have to say.
Knowing about crypto is great but then being able to communicate with your audience in a language that they are accustomed to is next level hence extremely important!
Alright, apart from understanding the basics of crypto, it's also important to stay up-to-date with the latest trends and topics being talked about across social platforms and things that can potentially make rounds on social media.
This can include new crypto coins, projects, regulatory changes, scams & hacks, and everything in between.
Keeping a close eye on social media and online forums can also be helpful for staying up-to-date on the latest developments in the industry. Two great platforms for this are Twitter(also called Crypto Twitter in the blockchain land) and Reddit.
Harsh Notariya, a news writer at BeInCrypto recommends spending some time to understand technical and on chain analysis.
He believes it allows a journalist to add more insights into their piece in turn giving more value to the readers along with the news itself.
While another senior crypto reporter who asked not to be named also suggested that freshers must spend some time to understand the Byzantine Generals problem and how crypto assets are programmed to solve it too.
âđ»Building Your Journalist Skill Stack
As we mentioned earlier, journalism is all about efficient communication with a lot of research, analysis and verification packed neatly into a package that becomes the actual âstoryâ which then gets published.
Letâs have a broad look at what major skill buckets a great journalist should fill up in their skill acquisition journey.
Research
Interesting stories do not just happen in front of our faces! At least they donât every day.
A great journalist needs to find interesting stories by digging deeper and sometimes it simply means having a friendly conversation!
Research is more of an art than a science and it takes time to build one's research capabilities.
However you can learn basic research methods from courses online and then build on them.
Analysis
A great journalist gathers tons of information & data and then analyzes it in order to pull one end of a thread and then keeps pulling on it to coax real stories out of a bucket load of data.
You can take basic courses related to research or very simply you can focus on reading more, asking questions, observing more, and understanding why people behave in certain ways.
You can also learn a bit of on chain analysis as that will allow you to find interesting stories based on transactions happening on chain.
For example, you could stumble across a whale that has been inactive for a decade and suddenly has started to move their Bitcoin into an exchange address.
Writing
Writing is a fundamental skill for any journalist. Writing is also not about just writing, it's a reflection of how well one was able to research, analyze and think through the story.
To build your writing skills you can take creative writing courses, learn from books such as Bird by Bird & On Writing Well and most importantly: WRITE MORE!
| Journalist Book Suggestion 1 | Journalist Book Suggestion 2 |
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Copywriting lessons can also help you build better writing skills.
A veteran crypto correspondent and an editor for Europe at CoinTelegraph, Arijit Sarkar shared a few writing tips for CJL audience:
He says a journalist should aim to provide the right information in the easiest way possible(might not have to do with heavy use of extensive vocabulary).
He also stresses that in order to be a good journalist (crypto or not), the art of writing down information in a crisp manner is absolutely important.
Modern storytelling
We have this extra section here because it is the need of the hour.
Modern storytelling refers to short and long form stories that are constructed in a platform specific way. A story will need to be told in a completely different way on Twitter than YouTube than Reddit.
Understanding social media, how storytelling on these platforms works & how people behave when they are on these websites is imperative in 2024 and beyond.
If you are able to build these skills and also build a strong personal brand by sharing stories you become much more valuable to the media outlets that youâre going to be working for.
This will also help you charge more for your services and have more employment opportunities in the long run.
đStart Your Career In Crypto Journalism
Journalism is a competitive and difficult field to get started in. However we have collated some tips for you that in our opinion are going to help you build a stronger foundation and ultimately a better career!
Build a writing portfolio
For completely new crypto writers, building a portfolio can be the most challenging task.
There are a few things you can do to build something that is worthy to be included in your profile and resume when applying to jobs.
Consider using internet sites such as Twitter and Medium to build a body of work. Additionally, you can also consider writing on LinkedIn and reaching out to small and medium-sized websites to write guest posts on topics that their audience wants.
A lot of people start their blog but usually, it is difficult to get traffic for new sites which makes it even more difficult to get discovered.
Hence, it's recommended to start writing on social media platforms first.
Network
Networking is crucial in any industry, and this is no exception.
It pays huge dividends to attend industry events and conferences to meet other journalists, experts, and potential employers.
Join online communities and social media groups to connect with others in the field.
This helps in getting great stories, opportunities, exposure, recommendations and most importantly meeting great people!
Stay on top of things
It's going to be imperative to stay up-to-date with the latest news and developments in crypto.
Subscribe to newsletters and news outlets that cover crypto news, follow influential figures in the field and keep an eye on blockchain data.
Keeping up with industry trends and news will help you identify potential ideas and stay ahead of the curve while your relationships with others will allow you to get commentary and build on your initial story idea!
Crypto is an extremely fast paced industry with thousands of things happening around the world at any given moment. It's a difficult field to be a journalist in but it does reward hard work done with a proper plan!
By building your skills, networking with others in the field, and staying informed, you can make a name for yourself and that really matters for a journalist because you need to really stay ahead of the curve.
đNavigating Crypto As A Journalist
As we mentioned earlier crypto is a fast moving field that keeps on running 24 hours so navigating and staying in touch with everything thatâs going on here is tough!
Here are a few ways to navigate the space while maintaining your sanity
Stay objective
People really fall in love with their bags and then slowly start hating everything else.
This makes your job as a journalist much more difficult. You will find it very difficult to find objective opinions as well as keeping your objective lens on too!
It pays to be objective in your pieces and quality players in the market appreciate the objectivity.
Build relationships with key players
Building relationships with key players in crypto (executives, developers, creators and investors) can help you stay on top of things and identify potentially juicy story ideas.
Keep an eye on regulations
Crypto is relatively new and the regulatory landscape isnât clear yet. This means there is regular push and pull from politicians supporting and against crypto from all over the world.
It pays to keep an eye on what is happening across various countries and their regulatory efforts and to be able to cover those in your pieces before others.
This is where your ârelationshipsâ are going to come in handy!
Be prepared for volatility
If youâre not new to crypto then you already know what we are talking about. If you are then buckle up for the ride of your life.
The constantly volatile environment makes it difficult but also exciting to be a journalist in this space because it means there is a lot to cover and talk about!
đExpanding Your Journalism Career
Of course there are many ways to expand your career prospects over time, we thought weâd list a few below for you.
Specialise in a niche
Thereâs a popular saying in the field of marketing that âriches are in the nichesâ
It definitely pays big time to niche down and become the go to person in the world for exactly what you do. You can create a niche around the way you do content, specific topics that you do etc.
For example, you could focus on covering only DeFi, only NFTs, become the go to journalist for news around funding rounds in the crypto industry etc. This can help you brand yourself better as compared to the other journalists however you must remember that it is relatively difficult to establish yourself this way when you are starting out.
Go for freelance opportunities
Freelancers can take multiple assignments at the same time allowing them to not only earn more but also experiment with various pieces, see how organizations work in crypto and build relationships across the industry at the same time.
This as you can guess can be a very strong move in being a correspondent.
Content Creation
This is a high effort usually winner takes all strategy.
Creating content as a journalist as I mentioned earlier can be extremely rewarding.
More content not only allows you to potentially reach more people but it will also allow you to become better at what you do and thatâs some real benefit if you ask me!
Frequently Asked Questions
What is the salary of a crypto-journalist?
While salaries vary greatly, the average Crypto Journalist salary in the US sits between $70,000 and $100,000 annually, according to data from Indeed and Glassdoor. However, this can be impacted by experience, location, and specific platform. For instance, senior Crypto Journalists at major publications can earn up to $150,000 or more.
What company pays journalists the most?
Companies in the technology and finance sectors, including major news outlets with a focus on financial and tech reporting, tend to offer the highest salaries for journalists. Salaries can be significantly higher at well-funded cryptocurrency news platforms or major publications that value in-depth, specialized knowledge.
Do you need a license to be a crypto advisor?
Yes, offering personalized investment advice in cryptocurrencies typically requires obtaining specific financial licenses, depending on your country's regulations. This is due to the legal implications and the need to protect investors from potential fraud or misinformation.
đLetâs Wrap Up
It's simple folks, a career as a crypto journalist can be exciting, challenging, and rewarding.
To succeed, it's important to stay nimble, continuously learn and improve, and be willing to take on new challenges and most importantly execute quality work at speed.
As a correspondent, you have the chance to be at the forefront of crypto and to help shape the way people think about and understand the web3 world.
As always, good luck with your job search!
